Are per the blog posts found here and here, Visual Studio 2008 will ship before the end of this year. Also it will be launched along with Windows Server 2008 and Microsoft SQL Server 2008 at an event here in Los Angeles on 27 February 2008.
As per Scott Guthrie
We typically release products several weeks/months before we "launch" them. You'll be able to buy the final release of VS 2008 and start using it before we hold the launch event.